Common use of Fees and Grant of Equity Clause in Contracts

Fees and Grant of Equity. This section will be deleted and replaced with the following: Exmovere Inc. shall adopt a Royalty Policy similar to that described in Schedule 2 of the Technology License Agreement. However, Exmovere's policy shall require the Company to allocate 5% of Category 1 revenues (BT2 sales or other product sales) and 10% of Category 2 revenues (Monthly monitoring revenue & revenue from the sale of services). Such royalty shall be placed into a Royalty Pool. Payments from this royalty pool shall be made on a quarterly basis, within 15 days after the end of the quarter, as follows: 20 % of the pool shall be paid to BT2 International Inc. 80% of the pool shall be paid to Exmocare LLC, et al In the event a financing is obtained that requires dilution of the payments from this royalty pool, the parties shall dilute on a pro rata basis. Schedule 2 Directors' Resolution - Royalty Policy Deleted and replaced with the above. Schedule 3 Milestones and Grant of Equity Deleted and replaced with the following: Exmovere Inc. shall issue 15,003,000 common shares for the transferred license rights. Such common shares shall be issued as follows: BT2 International Inc. 2,910,000 shares Exmocare, et al 11,640,000 shares Belmont Partners Inc 453,000 shares

Appears in 3 contracts

Samples: Common Stock Purchase Agreement (Exmovere Holdings, Inc.), Common Stock Purchase Agreement (Exmovere Holdings, Inc.), Common Stock Purchase Agreement (Exmovere Holdings, Inc.)

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Fees and Grant of Equity. This section will be deleted and replaced with the following: Exmovere Inc. shall adopt a Royalty Policy similar to that described in Schedule 2 of the Technology License Agreement. However, Exmovere's policy shall require the Company to allocate 5% of Category 1 revenues (BT2 sales or other product sales) and 10% of Category 2 revenues (Monthly monitoring revenue & revenue from the sale of services). Such royalty shall be placed into a Royalty Pool. Payments from this royalty pool shall be made on a quarterly basis, within 15 days after the end of the quarter, as follows: 20 % of the pool shall be paid to BT2 International Inc. 80% of the pool shall be paid to Exmocare LLC, et al In the event a financing is obtained that requires dilution of the payments from this royalty pool, the parties shall dilute on a pro rata basis. Schedule 2 Directors' Resolution - Royalty Policy Deleted and replaced with the above. Schedule 3 Milestones and Grant of Equity Deleted and replaced with the following: Exmovere Inc. shall issue 15,003,000 common shares for the transferred license rights. Such common shares shall be issued as follows: BT2 International Inc. Inc 2,910,000 shares Exmocare, et al 11,640,000 shares Belmont Partners Inc 453,000 shares

Appears in 2 contracts

Samples: This Agreement (Exmovere Holdings, Inc.), This Agreement (Exmovere Holdings, Inc.)

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Fees and Grant of Equity. This section will be deleted and replaced with the following: Exmovere Inc. shall adopt a Royalty Policy similar to that described in Schedule 2 of the Technology License Agreement. However, Exmovere's policy shall require the Company to allocate 5% of Category 1 revenues (BT2 sales or other product sales) and 10% of Category 2 revenues (Monthly monitoring revenue & revenue from the sale of services). Such royalty shall be placed into a Royalty Pool. Payments from this royalty pool shall be made on a quarterly basis, within 15 days after the end of the quarter, as follows: 20 % of the pool shall be paid to BT2 International Inc. 80% of the pool shall be paid to Exmocare LLC, et al In the event a financing is obtained that requires dilution of the payments from this royalty pool, the parties shall dilute on a pro rata basis. Schedule 1 Description of Technology Deleted and replaced with the attached. Schedule 2 Directors' Resolution - Royalty Policy Deleted and replaced with the above. Schedule 3 Milestones and Grant of Equity Deleted and replaced with the following: Exmovere Inc. shall issue 15,003,000 common shares for the transferred license rights. Such common shares shall be issued as follows: BT2 International Inc. Inc 2,910,000 shares Exmocare, et al 11,640,000 shares Belmont Partners Inc 453,000 shares

Appears in 1 contract

Samples: This Agreement (Exmovere Holdings, Inc.)

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